what is Jio Coin? India’s First cryptocurrency ICO (2018)

What is JIO COIN: After obstructing the telecommunication sector, Mukesh Ambani is butting into cryptocurrency. Reliance Jio invaded more customer with many free plans and highly competitive tariff plans which made their competitors reduce their tariffs.

Now Mukesh Ambani’s elder son Akash Ambani heading the cryptocurrency project for Reliance Jio as “Jio coin“. And the team of 50 highly qualified professionals will be working together on the basis of Blockchain technology.

What is jio coin

About cryptocurrency: What is jio coin

This would be the biggest question that comes to every person who hears this. In near past, everyone has heard a word ” Bitcoin” due to their astounding value.

Cryptocurrency is a digital asset that a follows the transaction information security. These cryptocurrencies are liable to the decentralized control.

However, these assets are in general doesn’t belong to central economy control few countries have made legal to use their cryptocurrencies to buy assets and for trade.

One such place that allows trade with these currencies is Russia. In 2014, Internal Revenue Service USA declared currencies will be subjected to tax. Hence Bitcoin has become a capital gain that holds sway for tax.

The Jio coin will be working in Blockchain technology as like Bitcoin. Blockchain technology is a digital record of economic transactions, which is a highly encrypted database.

This cannot be controlled by a single person and has no single point of failure. As the record says Bitcoin is operated by Blockchain technology since its invention in 2008 without any significant obstruction.

HOW JIO COIN (BLOCKCHAIN ) WORKS:

“The Blockchain is an incorruptible digital ledger of economic transaction that can be programmed to record not just financial transactions but everything of value,” says Don’t & Alex Tapscott, authors of Blockchain Revolution.

Also, finance minister Arun Jaitley said ‘A committee headed by Secretary, Department of economic affairs has been discussing this issue’. Also added this cryptocurrency will not be considered as legal tender by the government of India.

As the hike of Bitcoin value impacts hugely of people to urge towards a digital asset. However, in 2008 Bitcoins were given free to customers it reaches up to few thousand dollars in 2017. Later it reduced by 12% during Christmas.

Techie freaks were waiting for the launch of digital asset Jio coin. However, the value of Jio coin will be subjected to individuals risk of possession.

How To Buy JIO Coins Online In India With INR & USD?

Bitcoin Vs Jiocoin

In India, there are many popular wallets are the for buying and selling the Bitcoin are Zebpay, unocoin, coin-delta, Koinex, Ethreum, Ripple, Bitcoin Cash, and Litecoin. As per the News, Jio Coin will be sold on their official Jio app or any new app they will be developing for it for safety purposes.

Reliance Jio will be launching their Cryptocurrency on Jio money app so that everyone can easily buy the coin. After some days, some other popular exchanges will get authorize to buy and sell Jio coin. Just follow the Jio app for an authorized Jio coin.

Spread the News about what is Jio Coin so that everyone will be aware and make use of it. Just convey them on Facebook, Whatsapp, twitter etc.

If you have any question regarding the Launch Date of Jio Coin, Price of Jio coin, Buy and sell Jio Coin just comment below and we will be updating this news.

Now its time to spread the news to your friends using facebook, twitter etc. If you have any question regarding Jio Coin launch date, price, buy, ICO etc.

Then feel free to comment below. Also, stay tuned to us as we will update the whole article after the official launch.

MY OPINION ON JIO COIN PRICE:

The value of a currency base on the value/products that can bought by it. For example, if a large group of people/industries observe, that they can buy a large amount products/valuable assets/raw materials etc using the Indian rupee, the value of Indian rupee will rise against the dollar.

Cryptocurrencies work on the concept of the blockchain. And this blockchain technology might use in many other fields. I don’t think joining will be a tradable cryptocurrency. One that you can sell to earn INR (Indian Rupee). Or one that seen on cryptocurrency exchange markets like coinbase or Gdax.

I think Jio Coin will be made as tokens to be used in your jio accounts to recharge bills, pay for jio services, etc. Jio coin will be used only within your jio accounts.

So I think they are just using the blockchain technology to make tokens that can be across various reliance products.

Note: You cannot exchange it back to get INR (Indian Rupee) cause that will make jio coin a currency. And as we know Indian government is still doubtful about cryptocurrencies. Ambani’s won’t risk investing money in something that might get close shortly.

So I think Jio coin uses the blockchain technology to generate tokens, but it’s not a cryptocurrency.

CONCLUSION:

It should boom if the govt doesn’t intervene. We have a face in this ICO. They can’t just take your money and run away. So it’s going to boom. But if the govt steps in with regulations, then it might face challenges. Even then it would be a good buy.

Just because the Indian Cryptocurrency that’s going to have a massive hype behind it, huge because it has some great brand behind it(Reliance/Ambani) and currently in a crypto market the product matters less than the brand value.

SO I would love to get into Jio coin early and exit as soon as a considerable all-time high.